Tesla (TSLA) Q1 Deliveries Miss Estimates at 358,023 Vehicles

AI Summary

Tesla (TSLA) reported vehicle deliveries of 358,023 in Q1, falling short of Wall Street's estimate of 370,000 and resulting in a 5.42% decline in shares. This marks the second consecutive quarter of missed expectations for the company. Analyst Dan Ives from Wedbush maintained a $600 price target on TSLA, indicating a potential upside of over 65% despite soft EV demand and regulatory challenges in Europe. In addition, Tesla deployed 8.8 GWh of energy storage, below the expected 14.4 GWh, and plans to invest $20 billion in AI and robotics initiatives.